What is disclosing party in SAP SAP-LEGAL - Global Field Legal?

SAP Term: disclosing party

• Component: SAP-LEGAL

• Component Name: Global Field Legal

• Description: A Party to this Agreement disclosing confidential or proprietary information to the Receiving Party.

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• Key Concepts: 
  A disclosing party is a legal term used in SAP-LEGAL Global Field Legal. It refers to the party that discloses confidential information to another party. This confidential information can include trade secrets, proprietary information, or other sensitive data. 
  
  How to use it: 
  When using SAP-LEGAL Global Field Legal, it is important to identify the disclosing party. This is because the disclosing party is responsible for ensuring that the confidential information is kept secure and not shared with any unauthorized parties. The disclosing party must also ensure that the confidential information is not used for any purpose other than what was agreed upon by both parties. 
  
  Tips & Tricks: 
  When entering into an agreement with a disclosing party, it is important to clearly define the scope of the confidential information that will be shared. This will help ensure that both parties understand their responsibilities and obligations when it comes to protecting the confidential information. Additionally, it is important to have a written agreement in place that outlines the terms of the disclosure and any restrictions on how the confidential information can be used. 
  
  Related Information: 
  The concept of a disclosing party is closely related to non-disclosure agreements (NDAs). An NDA is a legally binding contract between two or more parties that outlines how confidential information will be handled and protected. It is important to have an NDA in place when entering into an agreement with a disclosing party in order to protect both parties from potential legal issues.